Uniswap (UNIUSD) Price is Under Strong Bullish Pressure

Breaking up $6.4 resistance level envisaged

Uniswap Price Analysis – 23 November

If the purchasing pressure is strong enough to break through the $6.4 resistance level, the resistance levels at $6.6 and $7.0 might be completely obliterated. In the event that sellers manage to drive the Uniswap below the $6.1 support level, the price levels of $5.7 and $5.4 will be put to the test.

UNI/USD Market

Key Levels:

Resistance levels: $6.4, $6.6, $7.0

Support levels: $6.1, $5.7, $5.4

UNI/USD Long-term Trend: Bullish

Uniswap’s daily chart makes a rising trend quite evident. At the moment, buyers are keeping the market towards the moon. The previous resistance levels of $5.7 and $6.1 were totally demolished before the slide yesterday. The cryptocurrency was under bearish pressure last month. At $4.0, the price found support. When the $4.0 low was challenged, the bearish fervor subsided. A large bullish daily candle emerged on November 1st, and the price started to rise. The price is been rising quickly above the $6.1 resistance level, exposed to $6.4 level.

Uniswap signals a positive trend as it is trading above both EMAs. If the purchasing pressure is strong enough to break through the $6.4 resistance level, the resistance levels at $6.6 and $7.0 might be completely obliterated. In the event that sellers manage to drive the price below the $6.1 support level, the price levels of $5.7 and $5.4 will be put to the test. The period 14 relative strength indicator forms an upward arch at level 69, indicating a buy.

UNI/USD Medium-term Trend: Bullish

The 4-hour Uniswap chart shows an upward trend. As soon as the buyers held the $4.5 barrier level, the price started to increase. On October 17, after it had successfully completed several tasks, including ones with price points of $4.7 and $5.1, the high of $6.1 was broken upside. Increased pressure from buyers led to this. When momentum builds, the previously specified level is breached, exposing Uniswap to the $6.4 level.

Right now, price pressure is being driven by buyers. The relative strength index period 14 positive trend at level 77 indicates a buy signal.

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